Progress reports from the consortium developing the Olkiluoto 3 nuclear reactor in Finland have shown that further delays are expected in bringing the plant into operation.

Finnish utility Teollisuuden Voima (TVO) said on Monday it is preparing for the possibility that the may be further delayed until 2016.
Olkiluoto 3 nuclear reactor
The reactor was originally intended to commence operations in 2009 but has experienced several setbacks and over runs, with TVO stating last year that it expected the project to be delayed until 2014.

Based on progress reports from the plant supplier, a consortium made up of French nuclear engineering firm Areva S.A (EuronextCEI) and Germany’s Siemens AG (SIE.XE), TVO said the production start may be postponed until 2016.

The Finnish utility said it had asked the supplier to update the overall schedule after the last delay was announced, but that it still hasn’t received “an adequate schedule update.”

Areva’s Chief Executive Officer Luc Oursel has said the reactor will ultimately cost about $10.7bn. It was initially expected to cost $4bn.

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